Hi All, A 100 years old triplex was recently purchased in Ontario, Canada. Around a month ago the current insurance company sent an inspector to the property. Following the inspection they sent a report summarizing requirements that need to be completed within a month in order to maintain coverage. The report shows things like electrical panel upgrade, brick repair, open sump pump should be covered and signs of roof deterioration. Regarding roof and electrical panel – report mentioned electrician and roof contractor should be consulted to assess with intention to upgrade/repair.
Should I fix everything they want and just see it as an "investment" required in the property anyway? Or, should I start contacting other insurance companies immediately hoping to find one who will insure the property without an inspection? If I do that, how can I explain to the new company why I want to cancel the current insurance coverage?? will they have visibility to the same report I received? THANKS!
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